The global recession continues to create new realities for students, institutions, and faculty members engaged in higher education. This blog chronicles those changes for academic / historical record purposes. Click on the URL at the end of each posting to view the complete news report.

Thursday, January 26, 2017

Universities, meanwhile, are keeping an eye out for possible ramifications from the disclosure last summer that the University of Virginia had created a Strategic Investment Fund from surplus funds that is worth more than $2.2 billion. Public colleges and universities are bracing for budget cuts — the glow from last session’s appropriations windfall quickly faded when the state came up short on the revenue it had anticipated. The schools had been told to expect a 7.5 percent reduction in state funding, but the governor’s budget proposal in December scaled back the cut to 5 percent for a total savings of $76 million. Virginia State and Norfolk State universities, two historically African American institutions, were exempted.
http://www.roanoke.com/news/politics/for-higher-ed-officials-general-assembly-session-offers-few-dollars/article_5de21cda-ecf3-518c-a303-8a3852750f27.html